Patterson v. Bingham

Prior to the first day of May, 1929, L. B. Patterson was the owner of 237 shares of stock, being all the stock outstanding, in the Des Moines Printers Exchange, an Iowa corporation engaged in printing and printers’ supplies. At that time Carl G. Bingham was the president of the Bingham Company, a corporation, with headquarters at Chicago, Illinois, which was engaged in the business of selling printers’ supplies. Prior to May 1st negotiations had been conducted between Mr. Patterson and Mr. Bingham in regard to the purchase by Mr. Bingham of all the outstanding stock of the Des Moines Printers…